Salient to Investors:

  • Hertta Alava at FIM Asset Mgmt said Hong Kong is usually very safe so the riots are unexpected, while Russia’s economy is getting weaker.
  • Dmitry Polevoy at ING said the market is getting closer to panic, while the ‘ghost’ of peak external debt payments in September and December is the most often-cited enemy of the ruble.
  • The MSCI Emerging Markets Index is at 10.7 x estimated earnings versus 14.8 x for the MSCI World Index.
  • Arbitrage opportunities between dual-listed stocks in Hong Kong and Shanghai are disappearing as prices move toward parity before the cities link their bourses.

Read the full article at

Click here to receive free and immediate email alerts of the latest forecasts.